Deep Dive: What Is One Penny on the Property Tax Worth?
Maryland counties all levy property taxes, but the same one-cent increase can generate more than $25 million in one jurisdiction and less than $500,000 in another. The difference comes down to the size and makeup of the local property tax base. That gap helps explain why comparing county tax rates alone tells only part of the story. Counties fund many of the same core services, but with very different levels of property tax capacity. A…